1982 Adopted Annual Budget - Laserfiche WebLink

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h) Review the Core Budget with supplements (if any) with the Council. The adoption of it requires Council to adopt three resolutions as follows: 1) Resolution setting tax levy to finance Budget 2) Resolution adopting total -expenditures 3) Resolution establishing use of revenue sharing funds within the City's Budget and the publishing of it Accordingly, after much work and review, the 1982 proposed Core Budget, along with the supplements, were submitted to the City Council on October , 1981 for their review and it was adopted on October , 1981. The Council voted four to one in adopting the 1982 City Operational Budget and the tax levy that supports it. The major problems confronting the City Council are the fiscal and physical planning needs of the City. This has been further complicated by the economic conditions at the National and State levels. The major problems here are as outlined below: a) Revenues - The following problems exist in this area: 1) Federal Revenue Sharing - This may be phased out by the Federal government as one of the Federal budget cuts to reduce Federal spending and bring their budget back into balance. 2) State Aids - The City does not receive its proportionate share of the distribution of the State Aid to Cities. This is due to the inequities in the State law that dis- tributes this revenue back to Cities in the State of Minnesota. The City of Ramsey, along with the Minnesota Small Cities Association has opposed this very unfair law and will work very hard to get it changed this next legislative session. However, the current economic crisis has created a very severe shortfall in the State's revenue which may cause a cutback in State Aid to Cities during the 1982 budget year. This State revenue represents only 17.0379 per- cent of the funds received in the General Fund Budget. b) Levy Limitation Law - This year this restriction did not affect the City, however, if this law stays in effect, it could have very major affects on the City in the future as noted by the financial analysis prepared by the City. If the City receives its fair share of State aid, the levy limitation would not be a major problem.